KUALA LUMPUR (March 27): The FBM KLCI started Friday on a firm note and rose 1.18%, riding the positive momentum from regional gains against the backdrop of the strong overnight close at Wall Street.

At 9,05am, the FBM KLCI rose 15.98 points to 1,344.07.

The early gainers on Bursa Malaysia included Carlsberg Brewery Malaysia Bhd, Hong Leong Financial Group Bhd, Heineken Malaysia Bhd, United Plantations Bhd, New Hoong Fatt Holdings Bhd, KESM Industries Bhd, Public Bank Bhd, British American Tobacco (M) Bhd and Mega First Corp Bhd.

Reuters said Asian stocks rose on Friday as investors wagered policymakers will roll out additional stimulus measures to combat the coronavirus pandemic after U.S. unemployment filings surged to a record.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.0%. Australian shares were up 2.02%, while Japan's Nikkei stock index rose 3.65%, it said.

JF Apex Securities Research said US markets rallied for a third day despite the record high jobless claims as investors remain positive on the stimulus bill.

It said that earlier, European stocks advanced as investors pin hopes on US $2 trillion stimulus package.

“On the local market, the FBM KLCI added 3.59 points to 1328.09 points.

“Following the bullish performances in the US and Europe, the FBM KLCI could extend its rebound towards the resistance of 1370 points,” it said.

Meanwhile, S&P Global ratings has affirmed Malaysia 'A-/A-2' Foreign Currency And 'A/A-1' Local Currency Ratings with stable outlook.

In a statement today, the ratings agency said it expects that Malaysia's core credit strengths, including its robust external position and highly credible monetary policy settings, will continue to support the rating following the recent aggressive decline in oil prices and unexpected change in government.

#dudukrumahdiamdiam and get the news at theedgemarkets.com.